Tuesday, 29 May 2012

PENALTY IS DISCRETIONARY NOT MANDATORY

Shri P V Ramana Reddy Vs ITO, Hyderabad
Income Tax - Section 271(1)(C) - Whether provisions of section 271(1)(C) are discretionary and hence the same are to be exercised in a liberal manner - Whether AO is required to be more liberal particularly in cases where the additions are confirmed as a result of difference of opinion. - Assessee's appeal allowed: HYDERABAD ITAT

No comments:

How to Claim Foreign Tax Credit in Australia as a Company

Claiming a foreign tax credit (FTC) in Australia allows companies to offset foreign taxes paid on income earned overseas against their Aust...